Stockhouse @ the Bell: U.S. stocks up on energy rebound

Today on Stockhouse

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Matt Badiali says stock market overreaction is a coming opportunity

Clif Droke takes a look at how post-panic bottoms form

Tom Dyson believes homebuilding stocks are in for a nasty surprise

Top Bullboards post: With Great Basin Gold Ltd. (TSX: T.GBG, Stock Forum) shares up 2% to $1.83, Bullboards says the company is set to make a presentation in New York on Thursday. Knowell says Great Basin plans to become a mid-tier gold producer through a well-defined strategy of developing projects, increasing resources and acquiring assets.

Top Bullboard: Spider Resources Inc. (TSX: V.SPQ, Stock Forum) was the top bullboard of the day when the stock was unchanged. Spider is the target of a takeover bid by Cliffs Natural Resources Inc. (NYSE: CLF, Stock Forum), which is eyeing control of an Ontario chromite find.

Top blog: LexLuthor2 says investors will be comparing the B.C. assets of Hunter Dickinson companies Amarc Resources Ltd. (TSX: V.AHR, Stock Forum) and Taseko Mines Ltd. (TSX: T.TKO, Stock Forum) in his LexCorp blog.

For news about small stocks that made big moves in TODAY’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.

Word on Wall Street

"Anything that indicates more of a stabilization -- and not rapid declines -- in housing is probably a good thing," said Jason D. Pride, director of investment strategy at Glenmede in Philadelphia during an interview with Associated Press.

Today In The Markets

TSX surges, buyers move in following steep loss; housing data helps support N.Y.

DJIA	10,249.54	+225.52
NASDAQ	2,281.07	+58.74
S&P500	1,098.38	+27.67
S&P/TSX	11,780.67	+208.70
S&P/TSX Venture	1,484.11	-3.89

TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market registered a sharp gain as investors moved back into commodity stocks following a string of losses caused by worries about the global economy.

The S&P/TSX composite index ran ahead 208.7 points to 11,781, making up all of Tuesday's 199-point tumble triggered by a slowdown in China's manufacturing sector and worries about the European debt crisis.

The Canadian dollar closed up 1.42 cents to 96.3 cents US, while oil rose 28 cents to US$72.86 a barrel.

New York stocks were also up sharply as a deadline for a U.S. federal tax credit pushed up the number of homebuyers signing contracts to the highest level since October.

The Dow Jones industrial average climbed 225.52 points to 10,249.54.

The Nasdaq composite index rose 58.74 points to 2,281.07 while the S&P 500 index was up 27.67 points at 1,098.38.

Please click here for the complete U.S. and Canadian market summaries.

After-Hours News

Hovnanian Enterprises, Inc. (NYSE: HOV, Stock Forum)
Hovnanian Enterprises, Inc., a leading national homebuilder, reported results for its second quarter. The company posted an after tax loss of US$28.6 million or 36 cents a share in the second quarter ended April 30, 2010, down from a loss of $118.6 million or $1.50 a share in the same period last year. Total revenues were $318.6 million for the second quarter, compared with $398.0 million a year earlier.

BioSyent Inc.(TSX: V.RX, Stock Forum)
BioSyent Inc. voluntarily initiated a recall of all lots of the Ciprofloxacin Injection 2 mg/mL (Intravenous Infusion) as a precautionary measure. There are currently no reports in Canada of any adverse reactions or adverse events as a result of the administration of Ciprofloxacin Injection to a patient. This product was manufactured by Claris Lifesciences Ltd. and therefore the product will bear both the BioSyent Pharma Inc. and Claris Lifesciences Ltd. names on the product and packaging.